Author: Arabian Media staff
Key Takeaways Automatic individual retirement accounts or auto-IRAs automatically enroll workers without 401(k)s into retirement accounts funded by payroll deductions.More than 20 states have passed or are considering laws to provide auto-IRAs.For workers, auto-IRAs offer the simplicity of “set it and forget it” savings—removing the paperwork and guesswork that often keeps people from starting. An auto-IRA is a state-run program that automatically enrolls eligible workers if their employer doesn’t offer a plan. Contributions are deducted directly from paychecks, usually starting at 3% to 5% of wages, and placed into investments like target-date funds or bonds. For workers, this removes the…
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Plan Name Average Annual Ozempic Cost Average Annual Mounjaro Cost AARP/UnitedHealthcare $327 $348 Aetna/CVS $623 $1,144 Alignment Health Plan $38 $132 Anthem $592 $819 Blue Cross Blue Shield $31 $224 Cigna $93 $185 Devoted Health $658 $1,312 Humana $220 $198 Kaiser Permanente $47 $5,251 Molina Healthcare $47 $75 $0 Doesn’t Mean Hassle-Free Even when a plan lists Ozempic at $0, that price may come with strings attached. For example, Humana’s Gold Plus plan offers Ozempic for $0, but requires prior authorization from the insurer and may impose quantity limits. Prior authorization and step therapy are common in Medicare Advantage plans…
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Key Takeaways If you’re five years from retirement, maximize your contributions to your 401(k) and individual retirement accounts (IRAs).Take a good look at your current finances and the amount you’ve already saved to help you determine how much more you need to save in order to retire comfortably.Gradually adjust your investment portfolio away from riskier investments, like stocks, to more conservative investments, like bonds. Five years might not seem like a lot of time to save for retirement, especially if you’re already in your late 50s or early 60s. Fortunately, it is enough time to adjust your retirement portfolio and…
A broker, also known as a brokerage, is a company that connects buyers and sellers of investment vehicles like stocks and bonds. A brokerage account is often where an investor keeps assets. In general, there are three types to choose from. Which type you choose depends on your needs and preferences. Key Takeaways A brokerage account is an investor’s financial account with a licensed brokerage to buy and sell securities.Different firms are geared toward various investors based on experience, the desire for support, and asset levels.Traditional and online self-directed programs are popular with various investors, especially those who are comfortable researching…
Key Takeaways Most Americans retire earlier than expected, with health issues and job loss being the main drivers of unplanned early exits. Experts recommend that people in their 40s and 50s plan by looking at best and worst case retirement scenarios and consider whether they can continue to work in their current jobs. Catch-up contributions to 401(k)s and IRAs can help boost savings, but planning on working longer is a risky retirement strategy given that many people retire before age 65. You’re fast approaching retirement, but don’t have enough money to comfortably retire just yet. Instead of stashing more money…
Maybe you received a big tax refund, a bonus at work, or a small inheritance. It’s not a life-changing windfall, but it’s enough to make you pause and wonder: What’s the smartest thing I can do with this money? If retirement feels far off, it might not be the first place your mind goes. But a $5,000 contribution towards your retirement savings today can grow to have quite the impact on your future, especially with time on your side. Below, we’re walking through some of the most effective retirement accounts to consider. By exploring how to make the most of…
Imagine you just received a $5,000 bonus at work, or maybe your tax refund was bigger than expected. Perhaps a relative left you a small inheritance, or you finally sold that old car gathering dust in your garage. Whatever the source, you’re now staring at an unexpected $5,000 and wondering: what’s the smartest move? While $5,000 won’t pay off your mortgage or buy you a brand new car, it’s far from pocket change. Used wisely, this amount of money can help you reach your next financial milestone or be the foundation for a new financial future. Three certified financial planners…